PIMCO California Municipal Income Fund (PCQ)
Financial Services · NYQ
Fundamentals
Valuation and ratings
PIMCO California Municipal Income Fund trades at USD8.56, which is 16% below the USD9.93 our discounted cash flow model puts on the business. On that measure alone it screens as undervalued, though a DCF is an argument rather than a measurement, and the market is frequently right about why something is cheap.
Our moat model scores it 65 out of 100, which is a moat, but not a deep one. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 294.7 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
PCQ dividend history
Dividends per share by year
| Year | Total per share | Payments |
|---|---|---|
| 2026 (year to date) | USD0.216 | 6 |
| 2025 | USD0.432 | 12 |
| 2024 | USD0.432 | 12 |
| 2023 | USD0.432 | 12 |
| 2022 | USD0.798 | 13 |
| 2021 | USD0.780 | 12 |
| 2020 | USD0.790 | 13 |
| 2019 | USD0.924 | 12 |
| 2018 | USD0.924 | 12 |
| 2017 | USD0.924 | 12 |
| 2016 | USD0.924 | 12 |
Split-adjusted amounts in the listing currency, grouped by the calendar year of the ex-dividend date, from the filed record. Growth and streak figures compare complete years only.
About PIMCO California Municipal Income Fund
PIMCO California Municipal Income Fund is a closed ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. It is co-managed by Pacific Investment Management Company LLC. The fund invests in fixed income markets of the United States. It seeks to invest in stocks of companies operating across diversified sectors. The fund primarily invests in municipal bonds. PIMCO California Municipal Income Fund was formed on June 29, 2001 and is domiciled in New York.
PCQ passes 6 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Common questions
Is PIMCO California Municipal Income Fund (PCQ) undervalued?
Against our discounted cash flow estimate of USD9.93, PCQ at USD8.56 is 16% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
What is PCQ's P/E ratio?
PCQ trades at 294.7 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
Does PIMCO California Municipal Income Fund (PCQ) pay a dividend?
Yes. PIMCO California Municipal Income Fund yields 4.88% at the current share price. It has paid USD0.396 per share over the trailing twelve months. It has paid a dividend in each of the last 25 complete calendar years. A dividend is declared by the board and can be cut at any time; a yield is a fact about the current price, not a promise.
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Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.